Lower Manhattan hotel sells for $32M

Barcelona-based hospitality giant Hotusa Group recently acquired the Exchange Hotel for $31.5 million, according to public records. The property, at 129 Front Street in Lower Manhattan, is Hotusa’s second Manhattan acquisition; earlier this year, the company entered into a joint venture with Losan Hotels World to purchase Midtown’s Dylan Hotel for $78 million. The Exchange Hotel was formerly the Manhattan Seaport Suites, and it was recently renovated. Hotusa has renamed the 53-room property Eurostars Wall Street. The building last traded hands in late 2004 for $11.75 million. TRD